Wednesday, February 8, 2012

Half An Inch

Now we are 2 days late for the HUD report. The papers FINALLY left Chase and went to the Title company where they will hopefully get the report completed and sent right away. We are still proceeding as if we are on time, even though we are not. I guess the strategy is to just submit the report late and apologize later?

I think I am taking a half day on Friday to sign the papers. This won't speed up the process, it will only enable the bank to have the funds ready to transfer on the 15th. I was so frustrated with the whole process today that I was researching what happens when a deal falls through, as in, how much would it cost me. I believe I would get my $1,000 escrow money back because there is a finance clause that says I can get out of the contract if I can't secure financing. I would still have to pay for all of the inspections and the inept appraisal report which caused the delay so that would be around $1,000.

Hopefully it won't come to that and the sale will proceed without any more issues. Only time will tell.